The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1887-09-16
FINANCE AND COMMERCE.
Money 8 Per Cent, New York Ex'
change Par selling.
Soften sseady - MiddlinE Cotton,
8e-Bales Today 900 ,\t
Bales.

APPEAL OFFICE,
THURSDAY HvHxIse, September Is. 1887.
Money rates continued firm at 8 per
cent. The supply Is moderate and Is
for the accommodation Of customers
only. It is expected that within some
four weeks money will be compare.
lively easy, and outsiders then can
secure favors from banks.
Exchange rates change today-New
York and principal cities North and
last on demsnd--i discount buying.
par selling. New York and principal
cities North and East, three days
grace, / discount buying, par selling.
New Orleans, I discount buying, par
selling. ttsli as
The local cotton market closed
steady and unchanged. Spot cotton
ct New Orleans closed steady; futures
closed steady; September advanced 9
points and the late months 2 to 8
points. New York spots were quiet,
and futures advanced from ! to 8
points. @. L. Greene 4 Co.'s report on
cotton futures says: 1.-THE desire to
sell out September continued fres and
general, and under the Offering the
market was weak, with 3@4 points de-
cline made. The winter and fall
months retained comparatively
steady position with an advance Of 8
points, to which this month subse.
qusntly responded, and the close was
about steady
The Liverpool market was quoted
unchanged, good business. Futures
closed easy; September declined /
point, and the late months advanced
10 4 points.
The deliveries Of coffee last month,
says the American Grocer, were 26ll
tons larger than for July, yet sOsl tons
less than the monthly average Of 1886,
and $500 tons below that for the first
eight months Of this year. During q
recent trip through Pennsylvania II was
invariably asked Of the retail grocer
what effect high prices had upon the
consumption. Except In the care Of
dealers having trade chiefly with rich
customers, all reported q decrease Of
from one-fourth TO one-half. In Phila.
delphia . retail hrm selling two tons q
week stated that, while the quantity
sold was unchanged, the profits
had been greatly reduced. II was ey.
tremely difficult to advance the retail
price to the basis Of the wholesale
cost and keep the same margin OF
profit. In every instance where the
retailers customers belonged TO the
iaborinR class there was reported q
marked decrease In the consumption
Of coffee and an increase In the de-
mand for tea, This was notably the
ease In Pittsburg and suroundins
towns, and Is indicative Of the effect
Of high prices upon the sales OF coffee
In every direction.
II 10 evident that reduced consump-
ton 10 ofisettiag crop deficiency In @
surprising manner. II Is therefore
wise 10 buy prudently at present cost.
We have NJ louttedly reached q
period Of high prices.
ELEvAroR REPORTS.
The following shows the amount oil
grain received. withdrawn and Ia stare
by regular elevators, as reported 10 the
Merchants Exchange today: Wheat
In store, 3,24l bushes. Corn, received
1884 bushels, withdrawn bt43 bushels,
In store II, l02 bushels. Oats rec lived
1919 bushels, Withdrawn 1885 bushels,
In store 1877 bushels.
IMPORTS.
Two hundred and twenty brls sp.
Piles, 179 SKIS bran, $50 rolls bagging, 100
pkss bacon, 225 pkgs boots and shoes,
300 bu corn, 2l0 pkgs cheese, so SKIS
coffee, 1000 sks cotton seed, 4 cars cot
ton eeed, l2l pkgs dry goods, 80 pkRs
eggs, 500 brls -four, 400 bales hay, AZ
pigs hats, 80 head horses and mules
lilo pkgs lard, 1000 feet lumber, l0C
brls meal, Is brls molases, 700 ky.
nails, 1000 bu oats, 20 brls onions, l0C
brls potatoes, 4 cars pork sides, so pkgf
rise, "a brls sugar, 2l6 pigs tobacco
and 100 bu wheat.